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Duty Exemption On Some Solar Components In Budget 2014-15: A Welcome Step

Team Industry 2.0
July 14, 2014

True potential of solar will get unlocked when there is widespread deployment of roof top solar and distributed power.

Budget 2014-15 is the first step towards rebuilding the economy and taking it back to 7% + growth rate. There is a clear indication that the focus will be on fiscal consolidation over populist measures. Considering the potential solar has in meeting India's future power needs, due priority has not been provided in this budget. There is some emphasis on renewable energy in the budget. Custom duty and Excise duty exemptions on certain solar components is a welcome step as it will promote domestic manufacturing. An allocation for 1000 crores for UMSP, agriculture pumps and 1 MW canal solar plants is less considering the importance of this sector.

 

I feel true potential of solar will get unlocked when there is widespread deployment of roof top solar and distributed power. Hence the government has to come out with polices to promote roof top solar and distributed power.

 

Sundeep Gupta, Joint Managing Director, Jakson Group

 

What do you think about the budget 2014-15?

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